Additional purchases

I've made three additional stock purchases, the first of which was a top-up of RCG with 1000 shares purchased at 70p. This doubles the size of my holding.

The second share was IPO which commercializes intellectual property through various partnerships with universities. I purchased 1000 shares at 93p, which is a P/E ratio of 8.5. Their results for the first half of the year was 15.8m pounds profit (fiscal year 2007 profit was 30.5m) and they are sitting on 39.5m in cash with no debt. Fair value of their equity investments were 148m as of their interim update, no doubt this is volatile but in the long term I expect it will be a solid investment. One of their most recent ventures is with Xeros and shows commercial potential in both industry and household usage. I'm looking to double or triple the holding in the future.

The third and last was Severfield-Rowen which is a leading British engineering company which has been pushed into deep value fundamentals through association with the building sector. SFR has a deep order book, a history of increasing dividends and relatively little debt. Their interim results were excellent and I expect they'll benefit from construction related to the Olympics and Commonwealth games in the next few years. At P/E ratio under 7 and a dividend yield of 11% this is a solid company at a bargain price and if it continues to fall I'll be increasing my holding.